Occidental Petroleum OXY releases its next round of earnings this Tuesday, August 03. Get the latest predictions in Benzinga's essential guide to the company's Q2 earnings report.
What Are Earnings, Net Income, And Earnings Per Share?
Earnings and EPS are useful metrics of profitability. Total earnings also known as net income is equal to total revenue minus total expenses. Dividing net income by the total number of shares outstanding yields EPS.
Earnings And Revenue
Wall Street expects an EPS loss of $0.12 and sales around $5.61 billion. In the same quarter last year, Occidental Petroleum reported EPS of $1.76 on revenue of $2.98 billion.
Why Analyst Estimates And Earnings Surprises Are Important
Analysts who cover this company will publish forward-looking estimates of its revenue and EPS each quarter. Averaging together every EPS and revenue prediction that each analyst makes about a company in a quarter yields the "consensus estimates." A company posting earnings or revenue above or below the consensus estimate is known as an "earnings surprise" and may move the stock by a considerable margin.
If the company were to report earnings in line when it publishes results Tuesday, earnings would be up 93.18%. Revenue would be up 88.51% from the same quarter last year. In comparison to analyst estimates in the past, here is how the company's reported EPS stacks up:
| Quarter | Q1 2021 | Q4 2020 | Q3 2020 | Q2 2020 |
|---|---|---|---|---|
| EPS Estimate | -0.33 | -0.59 | -0.72 | -1.68 |
| EPS Actual | -0.15 | -0.78 | -0.84 | -1.76 |
| Revenue Estimate | 4.91 B | 4.37 B | 4.28 B | 3.88 B |
| Revenue Actual | 5.48 B | 3.35 B | 3.28 B | 2.98 B |
Want Real-Time Earnings Calendar Updates?
Benzinga consistently updates its earnings calendars to stay up-to-date with the latest company earnings reports. Check out the full earnings calendar list updated in real-time by following this link.
Stock Performance
Shares of Occidental Petroleum were trading at $26.1 as of July 30. Over the last 52-week period, shares are up 70.52%. Given that these returns are generally positive, long-term shareholders are probably content going into this earnings release.
Do not be surprised to see the stock move on comments made during its conference call. Occidental Petroleum is scheduled to hold the call at 13:00:00 ET and can be accessed here.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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